Guernsey-based Channel Islands Securities Exchange (CISE), a stock exchange that lists bonds issued by some of the world’s biggest companies, has announced that it is rebranding as The International Stock Exchange (TISE), effective next month.
As well as new name and a new look, the company said that it plans to launch its presence on the Isle of Man on 9 March to simplify the way it communicates with customers.
Having launched more than three years ago, after acquiring the Channel Islands Stock Exchange, the CISE currently has over 2,000 listed securities on its official list with a total market capitalization of more than £300 billion. In addition to its headquarter in Guernsey, the exchange maintains an office in nearby Jersey, both of which are located outside of the European Union.
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The exchange is an affiliate member of both the International Organisation of Securities Commissions and the World Federation of Exchanges. It operates as a recognised bourse by the UK tax authority and the Australian stock exchange, for the purposes of investment by personal pensions and individual savings accounts.
The Channel Islands are an archipelago in the English Channel, off the French coast of Normandy. They include two Crown dependencies, Jersey and Guernsey, which have become major offshore financial centres on the scale of the Cayman Islands.
Jon Moulton, Chairman of the CISE, commented: “We already have business coming to us from many different parts of the world. Also, last year we made changes so that listing sponsors no longer have to be based in the Channel Islands but can be from further afield and we signed a Memorandum of Understanding with the Bermuda Stock Exchange (BSX) to explore opportunities for working together. In addition, next month we will be launching a presence in the Isle of Man where there is real enthusiasm for local access to an international exchange.”
Fiona Le Poidevin, Chief Executive of the CISE, said: “I have made several visits to the Isle of Man in the last year and it is clear that there is significant interest from businesses in the island to have access to an exchange. The Isle of Man has trading companies within a diverse range of industries, including in the technology sector, who will be able to use the Exchange to raise capital to help them grow and the Exchange will also offer other firms the opportunity to participate in its success by being a listing sponsor or providing legal or administrative services to those companies being listed.”